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24/07/2017 - 13:04hs

Inflation forecast from banks up

Financial market players estimate prices will have increased by 3.33% in Brazil at the end of this year. Last week’s projection had been 3.29%.

Brasília – The PIS/Cofins tax raise announced by government last week ended the downward streak for the Extended Consumer Price Index (IPCA), which gauges inflation in Brazil. A poll of financial market players made public this Monday (24) in the Brazilian Central Bank’s Focus Bulletin shows the inflation forecast for this year going from 3.29% to 3.33%.

The bulletin issued today also shows that respondents’ expectations regarding the IPCA next year remained at 4.20%.

Expected industrial output slid from 0.97% to 0.83% for this year and from 2.30% to 2.26% for 2018. The Gross Domestic Product growth forecast remained unchanged at 0.34% for this year and 2% for 2018.

*Translated by Gabriel Pomerancblum

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